The Cabildo of Tenerife is preparing to relaunch the sale process for its three publicly owned casinos as part of its 2026 budget strategy.
The properties included in the planned disposal are Casino Taoro, Casino Santa Cruz and Casino Playa de las Américas. Budget projections indicate that the network is expected to generate more than €18m ($21.2m) in gross revenue this year, reflecting sustained growth and solid operating margins across all venues.
Casino Playa de las Américas, located within the H10 Gran Tenerife hotel in Adeje, is forecast to lead performance with nearly €7.6m in revenue, representing a 13.4% year-over-year increase driven by gaming floor upgrades and operational efficiencies.
Casino Taoro, the oldest property in the network, projects close to €7.5m in revenue, up 16.3% compared to the previous year. Meanwhile, Casino Santa Cruz anticipates €3.1m in revenue, a 21.5% rise supported by new concepts such as a Racing Zone and an Art Tunnel.
Looking ahead to 2026, the Cabildo also plans to modernise slot machine floors, deploy new management software across the network and further position Casino Santa Cruz as a multifunctional venue capable of hosting forums and conferences.
Lope Afonso, VP of the Cabildo and Island Councillor of Tourism, said the casinos are currently experiencing “a great moment from a patrimonial, operational and social point of view,” adding that the budget figures reflect “a progressive consolidation of their revenue, profitability and EBITDA.”
Despite the strong financial outlook, the island Government maintains that the operation of casinos falls outside the scope of core public services.
A previous attempt to sell the assets in 2018 ended without a buyer after the only interested bidder failed to meet the tender conditions. At that time, the combined valuation stood at approximately €25m; current market assessments suggest the figure could exceed €50m.
Afonso acknowledged that the properties remain significant revenue-generating assets for the island, noting that dividend contributions from the casinos help support broader public policies.
However, the administration continues to frame the divestiture as part of a broader asset optimisation strategy.
In the Canary Islands, casino concessions are tied to specific geographic zones, meaning any buyer would need to operate within the existing territorial framework rather than relocate the licenses elsewhere
